BNK Banking Corporation Announces Strategic Sale of Mortgage Assets

BNK Banking Corporation Limited ( (AU:BBC) ) has provided an update.

BNK Banking Corporation Limited has announced a strategic sale of approximately $220 million worth of prime residential mortgages from the Bendigo Warehouse facility to Bendigo Bank, resulting in a net sale profit of around $2 million. This move is part of BNK’s strategy to optimize asset allocation, maintain strong relationships with Bendigo Bank and Realm Investment House, and align its balance sheet management with strategic objectives, with the transaction expected to reflect in the H2 2025 financial results.

More about BNK Banking Corporation Limited

BNK Banking Corporation Limited, founded in 1982 as Goldfields Credit Union, is a branchless bank offering a diverse range of financial products. Operating under the brands Goldfields Money and Better Choice, BNK serves as a ‘one-stop’ shop for brokers, leveraging an experienced management team and strong distribution network to deliver solid performance.

YTD Price Performance: -23.53%

Average Trading Volume: 42,031

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$30.87M

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